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Weekly review of Azerbaijani currency market

Business Materials 23 October 2010 11:48 (UTC +04:00)

Azerbaijan, Baku, Oct. 23 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0003 points or 0.03 percent. The average rate was established at 0.80132 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Oct.18 at 0.8015 manat to 1 U.S. dollar and minimum was established Oct.21 and 22 at 0.8012 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

October 11

0,8020

October 18

0,8015

October 12

0,8020

October 19

0,8013

October 13

0,8018

October 20

0,8014

October 14

0,8015

October 21

0,8012

October 15

0,8015

October 22

0,8012

Average weekly

0,80176

Average weekly

0,80132

As a result of last week's exchange rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX) remained unchanged at 0.8032 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 18 - $1.4 million with exchange rate of 0.8032 AZN/USD, Oct. 19 and 20 no deals were concluded. So, the rate remained at the same level of 0.8032 AZN/USD, Oct.21. - $0.3 million with exchange rate of 0.8032 AZN/USD, Oct.22 - no deals were concluded. So, the rate remained at the same level of 0.8032 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

October 11

0,8032

October 18

0,8032

October 12

0,8032

October 19

0,8032

October 13

0,8032

October 20

0,8032

October 14

0,8032

October 21

0,8032

October 15

0,8032

October 22

0,8032

Average weekly

0,8032

Average weekly

0,8032

No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN.

Last week, the price on privatization vouchers remained without changes, with purchases was running for five manat and sales for six manat. President Ilham Aliyev's decree on additional measures to ensure the use of  state privatization vouchers prolonged the validity period until Jan. 1, 2011. This decision was made as roughly 80 percent of the vouchers were still in circulation.

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